Wednesday, October 22, 2008
Yeah, entitlements again – In a letter to young voters, Robert Samuelson writes that everybody's taxes will be heading skyward soon enough: "You'll pay Social Security and Medicare for aging baby boomers. The needed federal tax increase might total 50 percent over the next 25 years. Pension and health costs for state and local workers have doubtlessly been underestimated. There's the expense of decaying infrastructure -- roads, bridges, water pipes. All this will squeeze other crucial government services: education, defense, police." But those taxes will only be paid by the rich...until they won't.